Coda Octopus Group, Inc. - Settlement of Lawsuit

Lakeland, Fl. (May 22^nd 2015) - Coda Octopus Group, Inc. CDOC, reports that the lawsuit against the Company intitiated by Iroquois Master Fund Limited, Rockmore Investment Master Fund Ltd., Cranshire Capital, LP, Scot Cohen, Richard Abbe, Philip Mirabelli And Joshua Silverman has been settled between the parties.

Annmarie Gayle, Group CEO said "This settlement allows the Business to focus on bringing real value to its shareholders and stakeholders"

About Coda Octopus Group, Inc.
Originally founded in 1994 as Coda Technologies, the Coda Octopus Group is now headquartered in Lakeland, Florida.  The Group consists of a Marine Products business in Florida and Edinburgh, Scotland, and engineering businesses in Salt Lake City, USA and Portland, England. Each of the Group companies are technology innovators with a particularly high level of sonar expertise. Coda Octopus Colmek has longstanding relationships in the USA with Prime Defense Contractors. The Group has facilities in Florida, Salt Lake City, the UK (Scotland and England), Australia and Norway. Alongside providing bespoke engineering and development for defense applications one of the Group's key products is the patented Coda Echoscope^® - the first real time 3D sub-sea sonar which is used in oil and gas, underwater construction, search and rescue operations and port and harbor security and constructions. The top end software which runs on the Echoscope® (Underwater Survey Explorer) is also proprietary to Coda Octopus. The Echoscope^® is also at the heart of the Underwater Inspection System which is being adopted for port and harbor security, and other applications globally. We have a number of products which are based on our real time 3D technology (Echoscope®, Underwater Inspection System and Dimension® (the latter being a forward looking real time sonar targeted at ROV applications)).  With this patented revolutionizing sub-sea visualization capability, and the existing systems integration skills within Coda Octopus Colmek, Inc. and Coda Octopus Martech Ltd., the Coda Octopus Group believes it can become a world leading integrated sonar technology supplier. For further information, please visit http://www.codaoctopusgroup.com or contact Coda Octopus at info@codaoctopusgroup.com.

Safe Harbor Statement:
This press release contains certain forward-looking statements. These forward-looking statements can generally be identified as such because the context of the statement will include words such as Coda Octopus Group plans, expects, should, believes, anticipates or words of similar import. Stockholders, potential investors and other readers are cautioned that these forward-looking statements are predictions based only on current information and expectations that are inherently subject to risks and uncertainties that could cause future events or results to differ materially from those set forth or implied by the forward-looking statements.  Certain of those risks and uncertainties are discussed in registration statement on Form SB-2 and its current filings which can be found at http://www.otcmarkets.com/stock/CDOC/filings and include, but are not limited to, market acceptance of Coda Octopus' planned products and their level of sales, access to the capital necessary to finance and grow the business, a highly competitive environment in the security field that includes numerous large and well established companies much larger than ours, and our ability successfully to deploy our technologies and products to meet the technical demands and market requirements of our customers.  These forward-looking statements are only made as of the date of this press release and Coda Octopus Group does not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

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